draw a diagram containing three indifference curves. Also write a short (1-2 sentence) explanation of why you have drawn each indifference curve this way.
Sam spends her free time in two ways: petting her cat or watching the Gilmore Girls. She gets the same amount of utility from spending an hour doing either activity. Be sure to label and number the axes on your diagram. Place hours petting her cat on the horizontal axis and hours watching Gilmore Girls on the vertical axis.
Utility function: U = C + G where C: Hours of petting cat and G: Hours of watching Gilmore Girls
In this case, C and G are perfect substitutes and indifference curves are linear straight lines touching both axes.
In following graph, I0, I1 and I2 are indifference curves, with I0 having lowest utility and I2 having highest utility.
draw a diagram containing three indifference curves. Also write a short (1-2 sentence) explanation of why...
you will need to draw a diagram containing three indifference curves. Also write a short (1-2 sentence) explanation of why you have drawn each indifference curve Mary gets utility from consuming maple syrup but not mushrooms. Giving her more or fewer mushrooms does not change her total utility level. Place maple syrup on the horizontal axis and mushrooms on the vertical axis.
draw a diagram containing three indifference curves. Also write a short (1-2 sentence) explanation of why you have drawn each indifference curve this way. Sophia consumes two goods, hummus and carrots. For each carrot she consumes, she needs exactly 3 ounces of hummus. Place carrots on the horizontal axis and hummus on the vertical axis.
Instructions: Answer the following questions as completely as possible. Write your answer neatly and legibly. When drawing a graph, make sure that you label axes and curves, and include appropriate coordinates. Always show your work. Suppose that Bridget and Erin spend their incomes on two goods, food (F) and clothing (C). Bridget’s preferences are represented by the utility function U(F,C) = 10FC, while Erin’s preferences are represented by the utility function U ( F , C ) = 0.20 F^2...